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| Issue Size (Base) | ₹75.00 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE |
| Tenor | 400 days, 20, 36,60 and 73 Months |
| Credit Rating | IND BBB/Stable by by India Ratings & Research Private Limited |
| Series | Series I to IX |
| Payment Frequency | Monthly and Cumulative |
Muthoot Mercantile Limited's revenue increased by 41.25% and profit after tax (PAT) rose by 6.85% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 606.51 | 420.36 | 316.24 |
| Revenue | 94.67 | 67.02 | 49.39 |
| Profit After Tax | 18.19 | 17.02 | 14.02 |
| Reserves and Surplus | 106.14 | 87.95 | |
| Amount in ₹ Crore | |||
The Company proposes to utilise the funds which are being raised through the Issue, after deducting the Issue-related expenses to the extent payable by the company towards funding the following objects
| # | Issue Objects |
|---|
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 | Series 8 | Series 9 | |
|---|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | Cumulative | Cumulative | Monthly | Cumulative | Monthly | Cumulative | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 400 Days | 400 Days | 20 Months | 20 Months | 36 Months | 36 Months | 60 Months | 60 Months | 73 Months |
| Coupon (% per Annum) | 10.70% | NA | 10.80% | NA | 11.25% | NA | 11.50% | NA | NA |
| Effective Yield (% per Annum) | 11.24% | 10.80% | 11.35% | 10.77% | 11.85% | 11.08% | 12.13% | 11.03% | 12.07% |
| Amount on Maturity (In Rs.) | Rs 1,000.00 | Rs 1,118.95 | Rs 1,000.00 | Rs 1,185.83 | Rs 1,000.00 | Rs 1,370.50 | Rs 1,000.00 | Rs 1,687.50 | Rs 2,000.00 |
The NCDs proposed to be issued under this Issue have been rated IND BBB/Stable by India Ratings & Research Private Limited
Muthoot Mercentile Limited was founded in March 1997. The Company is engaged in the business of gold loans and lends money against the pledge of household and/or second hand gold jewellery (“Gold Loans”) primarily to retail customers who require immediate availability of funds but do not have access to formal credit and also offers unsecured loans (“Pronote Loans”) to individual customers for their personal needs.
As of March 31, 2024, Gold Loan and Pronote Loan were disbursed to customers through the Company's network of 242 branches across the nine Indian states and union territories of Tamil Nadu, Kerala, Delhi, Haryana, Maharashtra, Madhya Pradesh, Odisha, Punjab, Uttar Pradesh and Rajasthan. As of March 31, 2024, the company employed 830 people.
The company is headquartered in the southern Indian state of Kerala. The company commenced operations in Thiruvananthapuram, Kerala and has decades of experience in the money lending business, especially in providing small loans against household items and/or second-hand gold jewellery. The company has developed various gold loan programmes that offer variable terms in terms of loan amount per gramme of gold, interest rate and loan amount to suit the varying needs of different customers.
